BALANCE OF PAYMENTS (Q4 2025)

For the fourth quarter of 2025, the overall balance of payments registered a current account surplus of US$69.93 billion, a net asset increase of US$74.86 billion on the financial account, and a decrease of US$1.00 billion in the Bank's reserve assets.

1. Current Account

The current account surplus increased by US$36.02 billion over the same quarter of the previous year.

1. The goods trade surplus rose by US$37.90 billion year on year to US$63.64 billion. This was mainly due to export growth bolstered by sustained strong business momentum in AI and other emerging technologies.
2. The services account deficit widened by US$0.65 billion year on year to US$2.47 billion, mainly owing to a decrease in receipts from freight services by resident carriers and an increase in expenditures on travel.
3. The primary income surplus narrowed by US$0.76 billion year on year to US$10.59 billion, mainly because of an increase in outward payments for nonresidents' direct investment income.
4. The secondary income deficit widened by US$0.46 billion year on year to US$1.83 billion, mainly reflecting an increase in outward workers' remittances.

2. Financial Account

1. The direct investment account recorded a net asset increase of US$4.98 billion. Of the components, outward direct investment by residents and inward direct investment by nonresidents recorded net increases of US$8.82 billion and US$3.84 billion, respectively.
2. The portfolio investment account recorded a net asset increase of US$30.11 billion. Of the components, residents' portfolio investment abroad posted a net increase of US$15.02 billion mainly because the private sector raised their holdings of overseas equity securities and the banking sector also stepped up holdings of overseas debt securities. Nonresidents' portfolio investment recorded a net decrease of US$15.09 billion mainly because foreign investors reduced their holdings of Taiwanese equities.
3. The financial derivatives account posted a net asset decrease of US$0.50 billion, mainly owing to a decrease in assets that reflected gains from the disposal of derivative financial instruments by other financial corporations.
4. The account of other investment recorded a net asset increase of US$40.27 billion, mainly because of increases in trade credit extended and in overseas deposits of the private nonfinancial sector.

3. Overview of BOP (2025)

For the year of 2025, the overall balance of payments posted a current account surplus of US$181.14 billion, a net asset increase of US$157.16 billion on the financial account, and an increase of US$20.04 billion in the Bank's reserve assets.

Notes: 1. The next release of balance of payments data will be at 16:20 on May 20, 2026.

            2. For the release schedule for the coming months, please refer to the Advance Release Calendar on the Bank's website.